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MARKETS ON FRIDAY: Indices end higher but Nifty fails to hold 10,500-mark

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017

SI Reporter  |  New Delhi 

Nifty Metal index ends nearly 1% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) S A I L 76.70 74.00 2.70 3.65 JINDAL STEEL 251.80 243.75 8.05 3.30 WELSPUN CORP 153.00 148.55 4.45 3.00 MOIL 215.00 209.65 5.35 2.55 HINDALCO INDS. 238.50 232.60 5.90 2.54 Sectoral Trend BSE Sensex: top gainers and losers of the day Market at close   The S&P BSE Sensex ended at 34,193, up 92 points while the broader Nifty50 index settled at 10,481, up 22 points. IDBI Bank: High NPAs, new bad loan rules seen offsetting inflows   IDBI Bank has joined the bandwagon of public sector banks (PSBs) rushing to sell their non-core assets to strengthen their balance sheet. Recently, the lender sold a commercial building for Rs 9 billion, taking the total non-core asset sales to over Rs 41 billion in FY18.   Also, the government provided Rs 106.1 billion recapitalisation amount, the highest among PSBs, to this cash-starved bank. But these efforts seem insufficient given the bank’s high net non-performing assets (NPAs) worth Rs 293.5 billion as of December 2017. READ MORE Oil heads for biggest weekly gain since July Oil prices edged higher on Friday, heading for their largest weekly gain since July after U.S. President Trump's comments about possible military action in Syria and reports of dwindling global oil stocks. Brent crude rose by 44 cents to $72.46 a barrel at 0821 GMT, up about 8 percent on the week. READ MORE

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank. Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June. Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter ...

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First Published: Fri, April 13 2018. 15:30 IST
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MARKETS ON FRIDAY: Indices end higher but Nifty fails to hold 10,500-mark

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank. Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June. Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter ...

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